The Toronto markets went down 120 points and there's a smell of correction in the air. Gold and Silver look to confirm their downtrends and the rest of the hard commodities look like they've lost their Mo. For now Stay tuned

The Dow action was something that we can't recall ever having seen before. Part way through the morning it just stopped as if becalmed. Stuff still went on but the market seemed to go into "idle" and barely moved. There was nothing. Remarkable. We've found that stocks that don't go up usually end up going down. Is the correction upon us? It looks like there's one in Precious metals. The Goldman earnings that were just in line with expectations didn't help the financials.

We think that the rotation is starting and that for Toronto there is a timely correction on its way. We need it to go higher. And clients tell us that everyone's bullish. We don't necessarily see it that way, but lower stock prices will lure more money back to equities

Obama is making nice to China and they like it. China is a significant risk to our forecast and when they all play nice together it removes or diminishes one more risk factor…Invest the Money

Gold shows a possible double top and may break through support to the downside.